Northeast Agriculture: Economic Engine for Growth

3/19/2013

With the celebration of National Ag Day on March 19, Farm Credit East recognizes the efforts of agriculture producers throughout the Northeast and the contributions they make to our economy. Often overlooked as an economic engine, agriculture creates economic activity and hundreds of thousands of jobs in the Northeast.
 
Northeast agriculture has a diverse farm product mix, including dairy, nursery and greenhouse, fruit, vegetable, aquatic and wine, to name a few industries. The 64,671 farms in the six-state region served by Farm Credit East provide consumers with an abundance of fresh, safe and local products all year round, generating $70.9 billion in economic impact annually.

                          Economic Impact      Employment
                                  $ billion                    Jobs
New York                      38.0                  196,216
New Jersey                   11.7                    61,855
Massachusetts              13.0                    68,110
Connecticut                     4.6                   26,744
New Hampshire               2.5                   18,481
Rhode Island                   1.1                     7,475
Northeast                      70.9                 378,881

"Agriculture is a major economic engine in the Northeast," said Bill Lipinski, CEO of Farm Credit East. "Our agricultural businesses are some of the best in the world, creating jobs, local food production and economic activity in hundreds of communities. Farmers also support the local tax base and are leaders in local communities."

Farm Credit East is the leading lender and financial services provider to Northeast agriculture. As a cooperative-owned lender, Farm Credit East serves 12,000 customers in six states. For more information, go to FarmCreditEast.com.